Thinking About Junking a Leased Car? Read This First
If you’ve ever wondered what to do with a leased car that is damaged or no longer running you are not alone. Many people think about junking a leased car when repair costs are too high or after an accident. But the process is not as simple as junking a car you own outright. When it comes to how to junk a leased car there are a few important steps you need to know before making any move.
First Things First Know What You’re Dealing With
When you lease a car you are not the owner. The leasing company is. That means you cannot just hand it over to a junkyard or sell it to a junk car buyer without their permission. Doing so can lead to serious legal trouble. So the first step is always to contact your leasing company and explain the situation. Let them know why you are thinking about junking the vehicle. They may have specific rules or options for handling a severely damaged or totaled leased car.
Do Get Approval Before Taking Any Steps
If the leasing company agrees that the car is beyond repair and junking is the best option they may give you written approval to move forward. Make sure you get this in writing. You will need it when working with companies like Boss Cash Cars that buy junk vehicles. Without this approval most reputable buyers will not be able to accept your leased car.
Don’t Try to Hide the Lease Status
Trying to pass off a leased car as your own is never a good idea. Junk buyers will check the title and paperwork. If the car is leased it will show up. Always be honest about the status of the car and avoid creating unnecessary problems. Transparency saves time and keeps things legal and simple.
Do Use a Trusted Buyer Like Boss Cash Cars
If you get the green light from your leasing company the next step is choosing the right buyer. That is where Boss Cash Cars comes in. Our team has experience dealing with complex cases like leased vehicles and damaged cars with financing involved. We offer a free quote upfront pick up the car from your location and handle the process with care. We make sure the transaction is smooth and legal from start to finish.
Don’t Ignore Insurance and Payoff Options
Sometimes a leased car is totaled in an accident and insurance covers the loss. In this case the leasing company will usually handle everything with the insurance company. But if the car is still drivable or the insurance payout does not fully cover the damage you may be stuck with a bill. Before you junk a leased car always check with your insurance provider to see if any coverage applies. You should also ask the leasing company if early payoff options are available. In some cases paying off the lease early allows you to take ownership and then junk the car legally.
Do Keep All Your Documents Handy
When dealing with a leased car situation paperwork is everything. Keep a copy of your lease agreement insurance details any repair estimates and all communication with the leasing company. These documents can save you time and help avoid confusion if questions come up later.
Final Thoughts Junking a Leased Car the Right Way
Trying to junk a leased car might seem stressful but it does not have to be. The key is to follow the right steps talk to your leasing company and work with professionals like Boss Cash Cars. We understand the process and can help guide you through each stage without any pressure.
If your leased car is no longer worth fixing don’t panic. Reach out to your lease provider get the necessary approvals and contact our team. We will help you turn your car troubles into cash and peace of mind.
